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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest income        
Loans, including fees $ 19,260 $ 18,144 $ 38,206 $ 36,437
Interest on investment securities:        
Taxable interest 3,371 2,340 6,561 3,897
Tax-exempt interest 712 670 1,405 1,342
Interest bearing deposits 605 230 1,658 745
Total interest income 23,948 21,384 47,830 42,421
Interest expense        
Deposits 2,826 2,885 5,548 5,490
Securities sold under agreements to repurchase 24 26 51 42
Short-term borrowings 0 0 0 3
Subordinated debenture 217 216 434 431
Total interest expense 3,067 3,127 6,033 5,966
Net interest income 20,881 18,257 41,797 36,455
Provision for loan and lease losses 4,287 6,963 9,507 11,635
Net interest income after provision for loan and lease losses 16,594 11,294 32,290 24,820
Non-interest income        
Service fees on deposit accounts 847 589 1,584 1,224
Merchant credit card processing and ACH fees 809 590 1,482 1,159
Prepaid card fees 7,065 4,390 16,111 9,145
Gain on sales of investment securities 0 603 0 603
Other than temporary impairment on securities held-to-maturity (126) [1] 0 [1] (126) [1] (75) [1]
Leasing income 843 645 1,793 1,349
Debit card income 148 189 304 403
Affinity fees 584 355 1,187 534
Other 279 426 404 1,128
Total non-interest income 10,449 7,787 22,739 15,470
Non-interest expense        
Salaries and employee benefits 9,099 7,550 18,715 14,530
Depreciation and amortization 848 723 1,654 1,452
Rent and related occupancy cost 795 734 1,592 1,433
Data processing expense 2,725 2,173 5,368 4,566
Printing and supplies 458 398 914 680
Audit expense 273 250 575 510
Legal expense 607 696 1,143 1,196
Amortization of intangible assets 250 250 500 500
Losses and writedowns of other real estate owned 421 439 1,872 491
FDIC Insurance 754 711 1,688 1,923
Software, maintenance and equipment 483 381 914 747
Other real estate owned expense 380 317 539 484
Other 3,946 3,510 7,352 6,710
Total non-interest expense 21,039 18,132 42,826 35,222
Net income before income tax 6,004 949 12,203 5,068
Income tax provision 2,150 289 4,377 1,720
Net income available to common shareholders $ 3,854 $ 660 $ 7,826 $ 3,348
Net income per share - basic (in dollars per share) $ 0.12 $ 0.02 $ 0.24 $ 0.11
Net income per share - diluted (in dollars per share) $ 0.12 $ 0.02 $ 0.24 $ 0.11
[1] Other than temporary impairment was due to credit loss and therefore did not include amounts due to market conditions.